markets. of course they had property. most high net worth people have everything, venture capital, hedge funds, private equity, master limited partnerships. there's a wide variety of investments that they have. >> and you don't see any sort of direction as a result of taxes. >> well, certainly there's more master limited partnerships are more attractive. municipal bonds in some ways are more attractive if the credit quality is there, but i would say generally people are aware they will have to pay higher dividends taxes but still like the dividends when you look at that in comparison to what they are getting on bond yields >> one of the things would i add, maria, everyone i've talked to whether it's wealth advisers or the wealthy, they want to know right now the after-tax return, and that is a very critical ter, the after-tax return, and, you know, that tax piece of that just went up, so that's going to affect the math here, whether you're looking at stocks, bonds, real estate, so i can't think -- you cannot ignore that fact. >> absolutely. robert, great point. thank you so much. robert frank, good to see you.